Athabasca Basin

CanAlaska Uranium (TSXV: CVV) reported record uranium assays from the Pike Zone at its West McArthur project, including 8.6 metres at 34.59% U₃O₈ and 14.8 metres at 14.71% U₃O₈. The company commenced a C$12.5 million summer drill program in June 2025 targeting Pike Zone extensions. Additional exploration programs are underway at Cree East, Constellation, and Frontier, funded through joint ventures with Cameco (TSX: CCO) and Denison Mines (TSX: DML). CanAlaska ended 2024 with over C$26 million in cash, supporting its project generator model. With uranium demand projected to outpace supply through 2035, CanAlaska is positioned to benefit from sector and project-specific catalysts. [more]

Paladin Energy’s proposed $1.14 billion acquisition of Fission Uranium faces further delays as Canada’s national security review under the Investment Canada Act continues. Originally expected to close in September, the deal has been extended until at least December 30, 2024. The review, focused on the Patterson Lake South (PLS) uranium project, highlights concerns over foreign control of critical resources. Despite a court ruling in Paladin’s favor, government clearance remains uncertain, posing a significant hurdle. If approved, the deal would position Paladin as a major uranium supplier with assets in Canada, Namibia, and Australia, meeting the growing demand for clean energy. [more]